BIZCHINA / Center
Ford's new engine plant starts production
(Reuters)
Updated: 2007-04-26 14:18
Ford Motor Co. said on Thursday its $312.5 million new engine plant in
east China has started production, as it moved to strengthen its position
in the world's second-largest auto market.
Changan Ford Mazda Engine, a three-way tie-up between Ford, Mazda Motor
Corp. and Changan Automobile Co. Ltd. , will supply the partners'
car-making joint venture, it said in a statement.
The facility, capable of producing 350,000 units per year, is currently
making Mazda's BZ series engines, with other models due to be added to
its portfolio.
Europe's biggest auto maker Volkswagen AG and its partner FAW, opened a
new engine facility in the northeast last month, bringing its latest
Turbo FSI technology to the fast growing auto market, in which it had a
17 percent share.
Volkswagen and FAW had invested 840 million yuan ($108.8 million) in the
plant as of the end of 2006. An additional 1.5 billion yuan will be
invested by 2011 to boost its annual production capacity to 300,000 units.
(For more biz stories, please visit Industry Updates)
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